Which of the following is not one of the assertions made by management about an account balance? A)Relevance. B)Existence. C)Valuation. D)Rights and obligations.

Question

Quizplus · Accepted Answer

All of the assertions mentioned are typically made by management about an account balance, except for relevance. Relevance is a characteristic of financial information that ensures it is useful and helpful in making decisions. While management may strive to provide relevant financial information, it is not an assertion made about an account balance specifically.

Which of the Following Is not one of the Assertions